Succession Planning

Identifying & Developing Top Talent for Critical Roles

“We hired LSA Global to help our long-term client identify root causes and develop an action plan for improving their leadership bench strength in face of high attrition and a changing marketplace. LSA’s succession planning expertise was a 10-out-of-10.

Their recommendations in the areas of attracting and recruiting the right talent, hiring and promoting the best talent, employee development, performance management, knowledge management and succession planning were right on target. I would recommend LSA to anyone looking to take their talent management practices to the next level.”
Director | Risk Advisory Services | Global Audit, Tax and Consulting Firm

Successful organizations make sure that they have the right people in the right positions to propel the business forward.  That includes building internal bench strength, filling the talent pipeline, and being prepared for planned and unplanned personnel changes. Done right, succession planning should be the fastest, cheapest and most reliable way to get well-qualified talent into open positions.

Unfortunately, very few companies have an effective or strategic succession planning process.

Succession planning is a critical component of an overall talent management strategy which aims to attract, develop, engage and retain top talent to execute the business strategy in a way that aligns with the organizational culture.

Succession planning focuses on identifying and developing internal talent with the potential to fill key business leadership positions in the organization. Succession planning increases the availability of experienced and capable employees through effective development of the high-potential employees, so that they are prepared to assume leadership roles as they become available. Done right, succession planning helps build the bench strength to ensure the long-term health, growth and stability of an organization.

Effective succession planning typically includes five major steps:

1. Identify Key Metrics to Move: Succession planning projects should start with clearly defined, relevant, meaningful and agreed-to success metrics that align with the overall business and talent strategies.  That means fully engaging your stakeholders to get the proper level of buy-in and alignment compared to other business priorities. Typical stakeholders include the Board of Directors, Chief Executive Officer, the Chief People Officer and the Head of Talent, Senior Executives, front-line managers, and employees.

2. Define Critical and Strategic Jobs – Now and in the Future: Once success metrics have been defined, it is time to identify your most critical and strategic roles to ensure success today and in the future based upon your strategic business plan and key assumptions about the future.  The goal is to get clear agreement and alignment about the critical few difference-making roles.

3.  Define Core Competencies – Now and in the Future: Once you have agreement on your most critical and strategic jobs, the next step is to clearly define the most important current and future competencies, skills, knowledge, behaviors, attitudes and experiences necessary to succeed in those roles.  Once again, less is more in this stage.  Look for the critical few that matter most for your unique situation, not an exhaustive list.

4. Conduct a Talent Review: Based upon the metrics to move and the desired current and future competencies, the next step is to review your current talent and jobs to understand the performance, potential, aspirations and issues with your current workforce and organizational structure.  The objective is to identify talent and structure strengths and weaknesses, spot and groom high potentials early, mitigate retention risks, and establish talent pools by levels based on the strategic strengths of the organization.

5. Create a Succession Plan:  After you have mapped your current and future talent gaps, it is time to create and execute a succession plan for consistently identifying and developing targeted internal talent with the potential to fill key business leadership positions in the organization.  This includes ensuring that you create structured development plans and curated development experiences to truly prepare your talent for the future. Targeted development plays a critical role in succession planning and often gets overlooked or is not fully implemented.

The entire succession planning program should be reviewed and adjusted (typically annually) in concert with the overall business and talent strategic planning processes.

Ask us about Leadership Development Pay-for-Performance options and how to move the leadership metrics that you care most about.  Typical metrics that we move include:

  • Sales revenue, margin, win rate, portfolio mix, deal size, and sales cycle.
  • Customer acquisition, loyalty, growth, and satisfaction.
  • Leadership execution effectiveness of key corporate strategies.
  • Employee attraction, development, performance, engagement and retention.
  • Project cost, quality, and time.

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The customized leadership program was very practical and achieved our goals. LSA adapted very well to our group and the situation and helped us build trust and awareness of successful leadership styles. We look forward to the next steps.

Erik Okholm
Director of Software Development

We selected LSA Global over 5 other companies to help some key executives improve their overall communication and executive presentation capabilities. Feedback has been great. Everyone had a great experience and many of them are feeding some of the lessons into their teams. I highly recommend LSA to any executive team looking to better organize and more effectively deliver key messages to C-Level individuals.

Todd Power
Office of the CEO

Hyperion has a commitment to lifelong learning. LSA helps us provide the right business sales training, management training programs, and leadership development programs at the right time to meet the needs of both individuals and departments. I especially appreciate their ability to listen to my needs and recommend the appropriate facilitators, solutions and content.

Sarah Parks
Senior Project Manager

Hyperion

Having tripled in size and recently merged, LSA helped our executive team to increase our level of strategic alignment, solidify our new direction and push our agency forward. As we look to rapidly scale, the clear and actionable critical few strategic moves combined with how we differentiate ourselves to our top accounts and target clients has really set us on a great path to success. This is exactly what we needed to get to the next level.

Matt Britton
CEO

I continue to be impressed by the level of leadership development and management expertise and quality of advice and facilitation that LSA has to offer. What a smart and client-centric group of great people who really know how to help leaders attract, engage, develop and retain top talent.

Tracy Esposito
Director, HR Business Partner

Thank you for a great leadership development session today. The facilitator was brilliant, and we really enjoyed his style and personality. The sales team got a lot out of it (as did I). I believe it will help us create an even higher performance environment by ensuring we have a common understanding of our environmental structure and are all working towards the same goals.

Simon Jefferson
Managing Director

AKQA

We recently hired LSA to help us take our client delivery methodology to the next level as we continue to grow and help our clients succeed. The custom strategy and design session exceeded my expectations. They really understood our business and turned around the project within a tight timeframe. LSA’s consultants were the best I have seen for this type of project. LSA’s ability to get a group of 20+ executives from around the globe on the same page, push their thinking to new heights, and ensure an executable plan was excellent. I would recommend LSA to anyone looking to take their plans and execution to the next level.

Rob Sturgeon
EVP Client Delivery

Service Source

We value our relationship with LSA Global. They focus on understanding our business situation and helping us succeed. LSA continues to deliver top quality consulting and leadership solutions that are highly customized for our business and culture. I would highly recommend LSA Global as a top quality resource to anyone looking to greatly improve the skills of their leadership, management, and project teams.

Bonnie S. Olson
Vice President of Human Resources

LSS

The customized leadership styles and coaching program was the best training that I have ever attended. The facilitators were phenomenal. They have a wealth of experience and knowledge coupled with compassionate and caring styles. I’d highly recommend this leadership training program to any manager, director, or executive looking for a life changing leadership program.

Shoaleh Ghaffari
Director, HR

Cutera

LSA’s executive coach based his approach on understanding our business circumstances and strategy, as well as our leadership aspirations. The customized coaching covered all aspects of leadership; it was not simply a touchy-feely endeavor. In fact, the focus on clear business outcomes and real life circumstances challenged me to develop my thinking and actions related to leading the business.”

Janet Pagano
Managing Director

Ovid

After a difficult search to find a partner that could address a very specific leadership development need, we chose LSA Global. They were responsive to our needs and created a solution that we continue to see results from. It is nice to know we have access to their expertise with a simple phone call.

Valerie Blackburn
Director of Business Operations

“We turned to LSA to help us custom design and deliver a leadership and management development curriculum to help drive performance. They have done an excellent job diagnosing the business situation, designing an approach that fits our culture, and delivering a first class solution.”

Sally Buchannan
VP Human Resources

We consistently receive positive feedback about the quality of the LSA Leadership Training Programs and LSA facilitators. We recognize and appreciate the hard work LSA always goes through to align to our unique culture and meet our specific requirements. Thank you for regularly going above and beyond to design solutions to meet our needs. Your support and dedication, both on the strategic and tactical side, have been outstanding!

Anna Meyer
Leadership Development

Intuit

As a high growth digital marketing agency with cutting edge talent, we hired LSA Global to help clarify our strategy and work with our management team to implement it throughout the New York Office in a way that made sense for our unique culture . That work was so successful that we also hired them to coach one of our key leaders. LSA has been instrumental in helping us transition to a new leadership team and triple the revenue in our New York office. In this age of useless consultants, I highly recommend their practical and business-oriented approach to strategy, culture and talent.

David Bentley
General Manager

AKQA

Great job in designing the Mergers and Acquisition strategy session for our global team. The executive presentation and information was excellent. I gained additional insight on the importance of the role of HR in Mergers and Acquisitions.

Gloria Veon
Senior Vice President, Human Resources

Fujitsu

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